Caleb Development Corporation
- Assets
- $14.2m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Swampscott, MA
- Founding
- 11/1997
- Data as of
- 12/2021
- EIN
- 04-3365903
Organization Overview
Caleb Development Corporation is located in Swampscott, MA. The organization was established in 1997. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caleb Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Caleb Development Corporation generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW INCOME HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Orzalli Chairperson | 2 | $0 | |
Vince O'donnell Treasurer | 2 | $0 | |
Debra S Nutter President | 2 | $0 | |
Robert Snow Treasurer Emeritus | 2 | $0 | |
Bessy Kong Director | 2 | $0 | |
Kathryn Burns Clerk | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $945,219 |
| Interest on Savings | $865 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,742,871 |
| Total Revenue | $2,688,955 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $660,172 |
| Taxes | $183,036 |
| Depreciation | $333,200 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,225,886 |
| Total operating and administrative expenses | $2,428,163 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,428,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,003 |
| Savings and temporary cash investments | $1,444,627 |
| Net Accounts receivable | $91,566 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,224 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,824,237 |
| Other assets | $4,430,209 |
| Total assets | $14,222,866 |
| Accounts payable and accrued expenses | $671,849 |
| Grants payable | $0 |
| Deferred revenue | $28,194 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $13,366,017 |
| Other liabilities | $280,745 |
| Total liabilities | $14,346,805 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |